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India on Pace for Record Spice Exports
DELHI - Mar 5/01 - STAT -- Indian spice exports are on track to beat last year's performance and have the potential to set a new recent record even though pepper shipments have suffered a massive year over year decline.
The country's pepper exports will likely end the season at their lowest level in recent memory. With 13,850 MT exported between April 1 and the end of January, this season's shipments may have difficulty reaching the 18,000 MT mark.
The depth of the decline is brought into focus by recalling the previous low was during 1995-96 when just 26,244 MT were exported. By contrast, clearances during the most recent five campaigns averaged 37,411 MT.
Of the remaining spices shipped by India, only ginger and coriander are down compared to last season. Shipments of all other spices are up, pulling season to date shipments for all products to 170,700 MT, compared to 157,435 during the same 10-month period last season.
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